Vietnam media platform Pops gets $30m

Mirae and Naver are leading the round via the Mirae Asset-Naver Asia Growth Fund, which was set up last year with KRW1 trillion ($861.4 million). Previous investors include Japan’s IT-Farm and US-based Warner Media.

Founded in 2007, Pops positions itself as a pioneer in Vietnamese digital entertainment streaming. The company aggregates and distributes original content in categories such as music, comedy, short films, beauty, news, children’s programming, and gameshows. It also aims to help its content development partners protect their intellectual property.

Programs are streamed via mobile devices or smart TVs. The user base is said to encompass 162 million subscribers and around 2,300 content providers across Vietnam and Thailand. Expansion plans include development of more local-language content exclusive to Pops platforms. Much of the content to date is accessed via YouTube and Facebook.

Mirae Asset-Naver Asia Growth Fund invests in internet platforms, e-commerce, healthcare, consumer goods, logistics and distribution service businesses in Vietnam, Indonesia and India. Recent activity includes participation in a $45 million Series B for RedDoorz, a Singapore-based hotel booking platform currently pursuing a Vietnam expansion.

Seoul-based EastBridge set up a Singapore office in 2017 after closing its second fund at $180.5 million. It focuses on mid-market growth and buyout opportunities. Earlier this year, Oman-based private equity firm Jabreen Capital acquired a stake in EastBridge’s Singapore-based business with a view to growing its exposure to Southeast Asia.

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• Topics
• Southeast Asia
• Expansion
• Media
• Consumer
• Vietnam
• TMT